2011-W Uncirculated Silver Eagles

Today September 15, 2011 at 12:00 Noon ET, the United States Mint will begin sales of the 2011-W American Silver Eagle Uncirculated Coins. This product represents a collector version of the popular bullion coin.

The 2011- W Uncirculated Silver Eagles are struck on specially burnished blanks and carry the “W” mint mark. The bullion versions of the coin do not have a mint mark.

This release will represent the return of the product after a two year hiatus. The collectible uncirculated Silver Eagles had been canceled in 2009 (along with the proof version) and in 2010, as the US Mint struggled to meet demand for bullion coins. Under previous law, the Mint was required to produce Silver Eagle bullion coins in quantities sufficient to meet public demand. Accordingly, they sourced all available silver planchets to the production of bullion coins and canceled cancel certain collector products.

With the passage of the Coin Modernization, Oversight, and Continuity Act of 2010 in December 2010, the Mint has more flexibility in producing collector versions of the American Gold and Silver Eagle, regardless of bullion demand.

The 2011-W Uncirculated Silver Eagles are offered by the US Mint priced at $60.45 each, with no stated maximum mintage and without a household ordering limit.

The coins will also be included as part of the 25th Anniversary Silver Eagle Set. The other coins included in the set are a proof with “W” mint mark, uncirculated with “S” mint mark, reverse proof with “P” mint mark, and a bullion coin. The US Mint previously indicated production of “up to 100,000” with a release date in late October.

Although I have no confirmation, it’s also possible that the 2011-W  Unc Silver Eagle may be included in an Annual Uncirculated Dollar Coin Set for this year. In January, the US Mint had released a pricing schedule for 2011 numismatic products that included this item priced at $49.95, which would no doubt need to be increased. If the format of the previous years is followed, the product would include uncirculated versions of the Presidential Dollars, Native American Dollar, and Silver Eagle.

When collectible uncirculated Silver Eagles were previously issued from 2006 to 2008, mintages were significantly lower than the bullion versions of the coin. The lowest mintage date carries a premium, while the other dates can often be purchased around the same price as the bullion coins.

The mintages for the W-mint marked Uncirculated Silver Eagles are shown below. For each year, the figures include the total from individual coin sales as well as the number of coins sold in other collector products. In 2006, the coins were included in the 20th Anniversary Silver Eagle Set and 20th Anniversary Gold and Silver Eagle Set. In 2007 and 2008, the coins were included in the Annual Uncirculated Dollar Coin Set. I will also note that the 2008-W Silver Eagle Reverse of 2007 variety had a mintage of 46,318, which is included in the total mintage for the date.

2006-W 466,573
2007-W 621,333
2008-W 533,757



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Comments

  1. simon says

    I’m glad to hear that the uncirculated dollar set is in the works – maybe! I have the two years issues, and was looking forward to them doing it again. It is my preferred format for the uncirculated ASE purchase.

  2. says

    The Mint is kind of shooting itself in the foot here.

    Given that the 2011-W will be available in the ASE anniversary set, plus the potential annual uncirculated dollar coin set, plus the high price of silver, I am expecting sales of the standalone 2011-W to be quite subdued. It might have been better to wait until 2012 to reintroduce it as a standalone product and leave the 2011 as part of the ASE anniversary set and annual dollar coin set.

  3. Brad says

    It’s situations like this that sometimes lead to the PACKAGING being worth more than the coin itself! If the 2011-W solo packaged coin with individual COA sold very few, many collectors would be pursuing it later. I don’t see it happening though, despite the other ways to acquire the coin coming down the pike. I’m sure this option will sell 300,000+ units. Me, I’m waiting for the 25th Anniversary Set! I can’t wait to get my hands on that beauty!

  4. BigHock says

    I agree. Why buy the single “W” coin when you can get the whole kit and kaboodle with the anniversary set next month at a lower overall mintage for the anniversay set?

  5. SunTzu says

    These 2011 W’s are already slabbed and graded for sale on eBay from one of the popular online coin retailers. How can these guys have them already graded before the Mint released them?!

  6. alan says

    i agree i do not know how these guys get those coins like that. paradise mint already has them for sale ,already graded and for delivery by the 20th or 21st of next week..I think these people should be looked into. i’am sorry talking about the 2011w coin that went on sale just today ,the 15th

  7. alan says

    i forgot to say these are for sale on e-bay,and that not talking about turn around time for grading either,he had to get them sometime in the begining of the week

  8. Michael says

    “These 2011 W’s are already slabbed and graded for sale on eBay from one of the popular online coin retailers. How can these guys have them already graded before the Mint released them?!”

    There are some pre-sales.

    Also there are some bullion coins minted at the West Point Mint without mint marks that have been slabbed 2011-(W). Just as some grading companies have identified coins minted at San Francisco but without mint marks, it appears that they have also identified coins minted at West Point but without mint marks.

  9. billy says

    There are only 2-3 presales for the raw coins, and 1 presale for NGC graded coins. The other listings are not for the 2011-w unc silver eagle.

    These ebay search terms narrow it down to 2 dozen listings, and you can look through them for the correct coin:
    2011 W Silver Eagle -pr -pf -proof

  10. Stuart says

    Hi Michael,

    Do you have any updates on Congress’ plans to eliminate or limit the production of the Presidential dollars?

  11. jimmy says

    2011 25th anniversary 5 coin set: any price greater than $340.00 for 5 coin set is considered to be overprice.

    mintage breakdown:
    2006w individual option —– 198,553
    2006w 2 coin set ————– 19,145
    2006w 3 coin set ————- 248,875
    total ———————————————– 466,573

    2007w individual option —– 531,166
    2007w 6 coin set ————— 90,167
    total ———————————————– 621,333

    2008w individual option —– 388,543
    2008w 6 coin set ————— 98,896
    2008w/7 ————————— 46,318
    total ——————————– 533,757

    25th anniversary 5 coin set:
    2011p reverse proof ———- 100,000
    2011s uncirculated ———– 100,000
    2011w uncirculated ———- 100,000
    2011w proof ——————— 100,000
    2001 bullion ——————— 100,000

  12. jimmy says

    the winners for 25th anniversary 5 coin set are two:
    2011s uncirculated
    2011p reverse proof

    the bullion one will be the most in term of mintage. 29,417,500 as of this writing.

    while the other two:
    2011w proof – currently mint produced 740,946 and not final yet.
    2011w uncirculated – today mint start selling it.

  13. jimmy says

    silver price is down right down. and i also based some on 2006w 3 coin set price. remember $100.00 a set for 2006w is already quite overpriced.

  14. jimmy says

    don’t rush to buy u.s. mint products. by next Wednesday. mint should lower one bracket again. don’t try to judge this year low mintage products. next year might be lower again. i don’t see any good stuffs from the mint except the 25th anniversary.

  15. says

    Jimmy,

    It’s true the price of silver is down a bit, but I am judging by the price of proof and uncirculated eagles as they are currently selling on the Mint’s website. If you add up the price of two regular proof eagles and 3 uncirculated eagles, the total is $318.25. Then take into consideration that the Mint is going to be providing fancy packaging. In their own words: “one custom-designed, highly polished, lacquered hardwood presentation case.” That will add to the premium costs. The Mint also knows they are creating a relative rarity in the reverse proof and the 2011-S, so that will also be a reason for them to add additional premium, since there will be enough flippers (plus real coin collectors) out there to let them sell at almost any price.

    Finally, you should take into consideration just how high the premium for proof silver eagle is. The Mint is not afraid to charge big premiums for their coins. If you want the ASE anniversary set, be prepared to pay at least $350, and don’t be surprised if it starts even higher at $400-$415..

  16. simon says

    I think USMint pricing is certainly much more reasonable than the pricing for offerings from world mints. Try purchasing a 1 Oz coin from Auzzy and see the difference. No complaints from yours truly c ;)<

  17. says

    I agree that their pricing is superior to that of other mints around the globe (especially Perth, those Australian prices, yikes!), but I’ve been concerned that in recent years they’re beginning to move more towards the global norm and away from how they used to price things. The premiums on proof silver eagles in particular seem to have gone really over the top – other products are a bit more reasonably priced still IMO.

  18. fosnock says

    That is why I generally avoid world mints, but at least they offer limited mintage (generally 5K) while the US mint’s limited mintage is 100K if not more.

    As far as the US Mint pricing is concerned I have yet to see them recently lower the price of any silver items they offer, they use to have a fire sale on items until people rightly complained it was destroying the secondary market. I could be wrong but even if silver drops back down to $17 an ounce I do not see them readjusting the pricing on the ASEs because they have been already introduced to the market. They are not bullion and they are not on a weekly price adjustment

    Jimmy in your defense I see how you are calculating the cost It will be at least $120 for the uncirculated coins, $136 for the proofs, and lets say $45 for the bullion. then add the presentation case for $30, so $340 is basically the same profit they would get by selling the coins individually at current prices. The problem is the mint will want additional profit for the reverse proof, plus it knows demand will be high, so your $340 is the floor not the ceiling. The mint’s attitude will be if you feels its to expensive don’t buy it we will still sell out as we have a 5 per household limit

  19. art says

    From what I hear, the other world mints do not have the quality problems that the US Mint has. I would trade price for quality at times with our beloved US Mint. Some of the coins the US Mint ships are an embarrassment.

  20. jimmy says

    the total price for 25th anniversary 5 coin set is not $318.25. based on today silver price at $40.47 per ounce. the mint only add $2.00 to it. the bullion silver dollar will be $42.47 instead of $60.45.

  21. Brad says

    Time will tell, but I’m thinking the lowest price we’ll see for the 25th Anniversary set will be $379.95. I won’t be surprised if they are priced at $399.95, however. And, that is only if the current silver price level of anywhere from $39-$42 holds until the sets go on sale. If the price rebounds and sets new highs of over $50, then we could be looking at an issue price of $449.95 or higher.

  22. jimmy says

    the 2006w 3 coin set initial profit at e-bay will be much higher than 2011 5 coin set. the $100.00 per set went as high as $900.00 at e-bay. but the 2011 set with a price tag between $350.00 to $400.00. i think the e-bay initial high price will still be less than $1,000.00. what you guys think?.

  23. fosnock says

    Jimmy – Not sure what bullion price has to do with anything. The mint is selling the uncirculated coins for $60. This price will not go down but it might go up based on the silver spot prices.If the mint priced silver like gold then it would be another matter but even then you did not take into account the mint’s 30% markup on the spot price. The mint only uses spot price as a guide and the $2 markup is for bullion. If you want to buy silver at spot price then buy silver bullion do not buy from the US Mint.

    Would it pay to have the 25th anniversary set graded.

    Only if you get a perfect (MS70, PF70) on one of the rare coins (Reverse proof or S mint mark)

  24. jimmy says

    yes you have two unc coin at $60.45. no question about that. but you also get one bullion coin. one proof and one reverse proof. the mint will just use the bullion coin to add it to the 5 coin set.

  25. G says

    Curious what you think about the mint issued box. It seems like the 2009 Ultra High relief coins are making a bit of a rebound in price in the mint issued boxes. I wonder if down the road, there might be a huge premium for the coins in the really cool boxes (the UHR and the gold buffalos) approaching the price of the 70’s.

  26. fosnock says

    jimmy I think the bullion coin is just another way to stuff it to us.In other words I do not think they will sell it at a bullion price, they may sell it close to what they sell it to the primary dealers but I doubt it. Hopefully I’m wrong but that extra ounce of silver does not cost the mint much but it will help justify an inflated mint price.

    About mint boxes everything depends on how many people send their coins off for grading. The more people who send their coins off and can’t use or destroy the original packaging the more valuable the mint issue packaging becomes. I do not see the UHR in mint issue boxes closing in on price with the MS-70s much less any PL-70s. The population for the UHR 70s are way to low, and most of the coins sold on e-bay that are graded still come with the original packaging. I have no idea about the gold buffaloes but if the packaging is the same each year then why would you get a premium for the packaging their is nothing special about it?

  27. G says

    Just a thought- the buffalo packaging is really nice looking, and it’s not easy to put the coin back in the packaging, so to speak. I’m just thinking long term about the graded coins versus the special mint packaging. Actually, the prices on ebay for the UHR in unopened state have passed both the mint packaging and the 70’s (in some cases). Pretty crazy- but it’s just since the early release 70 PL is going for 25,000. I mean… 21,000 more for the label ‘first strike’?

  28. says

    The UHR’s were hard to get it time to get a 1st strike or ER label. I got mine on the absolue last possible day to be eligible and am very happy I did. Those will hold their value, but the prices I have seen for NGC MS70 PL ER’s are just crazy — in the tens of thousands, and I don’t think those levels will hold.

    As for packaging with the anniversary sets, if you can swing it, get two and keep one in OGP. That’s what I did with the 20th ann. sets. But you will probably need to place two separate orders to follow the guidelines of the TPG’s, which may be tricky with the competition to get orders in.

  29. Leo S. says

    Michael,

    Regarding G’s comment on the $25,000 UHR coin on ebay, isn’t this designation of “First Strike” a made up term from the grading companies and really has no legitimate collector meaning? I understand PL but I think with the large number of UHR minted and the number of UHR that are ungraded, that the price is very unrealistic. The term “First Strike” and “Early Release” seem like gimmicks that have been thought up by grading companies to make more money and TV sales people to make more sales.

    Leo S.

  30. simon says

    Personally IMHO even the PL designation is a bit of a stretched gimmick. The originality of the coin is that it is a well struck high relief numismatic item of an 1905~7 vintage design utilizing modern techniques. Hard to imagine someone pays that kind of money for anything modern without a second thought.

  31. DCDave says

    FS v. ER: Winner: NGC:
    “Early Release” by NGC is a more accurate term than “First Strike” by PCGS. Actually Early Release is a true statement while “First Strike” is a total lie! Someone should question the legality of this phrase. A first strike may be made months after the inital sales date.
    PCGS holders v. new NGC holder, Winner: new NGC holder, especially for big coins. I think grading from both NGC new holders and PCGS is not as strict as they used to be. I am always suspicious of a “crack-out” upgrade when I see an older coin in a new holder now. Overall, PCGS reminds me of Microsoft and NCG of Apple…

    The only real advantage I see of FS/ER is that the coin is less likely to have been bouncing around from multiple owners.

    The American Eagles will always nicer than anything the Perth Mint makes as long as the Aussie obverse has the old queen on them (same for Canadian and English coinage). Sorry, I tend to look at both sides of a coin.

  32. stephen m. says

    What ever the price the mint ask for the 25th anniversary set i’m sure it will be high but at the same time it will be what i’ll call reasonable. One set is all i want and that cost for the one will be acceptable to me. “If you want to play you gotta pay.”

  33. jimmy says

    why don’t you guys who have UHR MS70 at $25,000.00 price tag. and pretending you gonna sell it to a dealer. and see how much that coin worth that a dealer willing to buy from you?. or see how much you gonna lose?.

  34. jimmy says

    my guess on the final mintage for 25th anniversary is 99,025 piece. why?. let see how the 2006w sets results.

    3 coin set – max mintage is 250,000. final mintage is 248,875
    2 coin set – max mintage is 20,000. final mintage is 19,145

    now this figure 99,025 pc even look very much better than 100,000. isn’t it?.

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